Former FT journalist's million pound pay day with breakingviews

Posted by Helena Humphrey on September 21, 2009 at 11:56 AM

The Times reported that Hugo Dixon, former FT columnist and founder of the internet-based financial analysis service Breakingviews.com, looks set to pocket a paycheque of £2.7 million, if he signs on the dotted line and hands the company to over to Thompson Reuters, for an estimated price tag of 10 million pounds.

Thomson Reuters, which has been looking to expand its commentary and analysis on the global news network for over a year now, has reportedly been in talks with Dixon since July.
It is likely that the Breakingviews entity will be left as its own operation, and receive its own branding.

The enterprise currently has around 15,000 direct subscribers as well as columns in The New York Times, Le Monde, El Pais and Handelsblatt - and counts more than 40 companies and investors amongst its shareholders, including the Wall Street Journal.

Those who supported the venture, including Lord Davies, the trade minister, Stephen Hester, chief executive of Royal Bank of Scotland, as well as numerous investment bankers, will also be cashing in from the deal, with Roland Rudd, senior partner of Finsbury, standing to make around £1.4 million, according to records at Companies House.

It's perhaps not such a happy day for Jonathan Ford, however, who, having co-founded Breakingviews with Dixon in 1999 left the company 2007 without any shares.

Source: Times